Gaudin & Gaudin, a Professional Law Corporation Versus Iberiabank Corporation

CourtLouisiana Court of Appeal
DecidedMarch 17, 2020
Docket19-CA-459
StatusUnknown

This text of Gaudin & Gaudin, a Professional Law Corporation Versus Iberiabank Corporation (Gaudin & Gaudin, a Professional Law Corporation Versus Iberiabank Corporation) is published on Counsel Stack Legal Research, covering Louisiana Court of Appeal primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Gaudin & Gaudin, a Professional Law Corporation Versus Iberiabank Corporation, (La. Ct. App. 2020).

Opinion

GAUDIN & GAUDIN, A PROFESSIONAL NO. 19-CA-459 LAW CORPORATION FIFTH CIRCUIT VERSUS COURT OF APPEAL IBERIABANK CORPORATION STATE OF LOUISIANA

ON APPEAL FROM THE TWENTY-FOURTH JUDICIAL DISTRICT COURT PARISH OF JEFFERSON, STATE OF LOUISIANA NO. 762-910, DIVISION "C" HONORABLE JUNE B. DARENSBURG, JUDGE PRESIDING

March 17, 2020

SUSAN M. CHEHARDY CHIEF JUDGE

Panel composed of Judges Susan M. Chehardy, Jude G. Gravois, and John J. Molaison, Jr.

AFFIRMED. SMC JGG JJM COUNSEL FOR PLAINTIFF/APPELLANT, GAUDIN & GAUDIN, A PROFESSIONAL LAW CORPORATION James E. Shields, Sr.

COUNSEL FOR DEFENDANT/APPELLEE, IBERIABANK CORPORATION Pauline F. Hardin Graham H. Ryan CHEHARDY, C.J.

Plaintiff, Gaudin & Gaudin, A Professional Law Corporation (“Gaudin”),

filed suit against defendant, IBERIABANK Corporation (“IberiaBank”), seeking to

recover amounts on forged and stolen third-party checks presented to the bank for

payment by a Gaudin employee not authorized to receive the funds. The bank

cashed the forged checks and the employee retained the money. In addition to

claims asserted against IberiaBank under the Louisiana Uniform Commercial Code

(“LUCC”), Gaudin alleged, inter alia, causes of action for fraud, fraudulent

concealment, and fraudulent conversion. Gaudin appeals the trial court’s March

14, 2019 judgment granting IberiaBank’s motion for summary judgment

dismissing all of Gaudin’s claims, with prejudice, on the basis that Gaudin’s claims

are prescribed. For the following reasons, we affirm the trial court’s judgment.

Factual Background and Procedural History

Gaudin is a law corporation located in Gretna, Louisiana. Gaudin began

banking at IberiaBank in 2011 at its 4th Street branch, situated directly across the

street from Gaudin’s law office. As required under Louisiana law, Gaudin opened

a new IOLTA checking account at IberiaBank for each calendar year.1

Specifically, Gaudin opened a 2014 IOLTA checking account, a 2015 IOLTA

checking account, and a 2016 IOLTA checking account (the “Gaudin Accounts”),

by executing account agreements with IberiaBank. All three account agreements

were executed by Pierre Gaudin, Sr., Pierre Gaudin, Jr., and Hillary Gaudin, each

of whom were authorized signers on the Gaudin Accounts. Pursuant to the

respective account agreements, only one signature of an “authorized signer” or a

stamped signature was required to make a withdraw from the Gaudin Accounts.

1 An IOLTA (Interest on Lawyers Trust Account) “is a pooled, interest-bearing client trust account for funds of clients or third parties which are nominal in amount or to be held for such a short period of time that the funds would not be expected to earn income for the client or third person in excess of the costs incurred to secure such income.” See Rules of Professional Conduct, Rule 1.15(g).

19-CA-459 1 By executing the account agreements, Gaudin thereby agreed to the terms

and conditions of the “Deposit Account Agreement,” which imposed a duty to

review its monthly statements and to report any unauthorized transaction within

thirty days from the date the statement first became available. It is undisputed that

Gaudin received copies of the Deposit Account Agreement. Gaudin also

acknowledged that it received all of the monthly statements of account sent by

IberiaBank showing payment of items on the Gaudin Accounts at issue. The

account statements included the item number, amount, and date of payment

sufficient to identify each of the items paid in a particular month.

Third party defendant, Lainie Collins, was employed by Gaudin as a

bookkeeper from 2009 until her termination in 2016. As Gaudin’s bookkeeper,

Ms. Collins was responsible for Gaudin’s banking activity and was entrusted with

control over Gaudin’s checkbook. She was authorized to receive and open

Gaudin’s monthly statements for the Gaudin Accounts and was responsible for

notifying her superiors at Gaudin of any irregularities detected. It is undisputed

that Ms. Collins’ receipt and review of Gaudin’s account statements were not

supervised. The account agreements authorized the use of a “facsimile” stamp of

Pierre Gaudin, Sr.’s signature, which was kept in his office desk. Ms. Collins had

regular access to Mr. Gaudin’s office and desk.

In March 2016, Gaudin received a notice from IberiaBank that its 2016

IOLTA account was overdrawn, which prompted Gaudin to investigate the

overdraft. According to Pierre Gaudin, Sr., “there were duplicate checks, which

had been evidently made to the client twice, what [the client] was supposed to

[receive] from the settlement, and then a duplicate check was produced and forged

with [Pierre Gaudin, Sr.’s] name and the client’s name and taken to the bank and

cashed.” Video surveillance from IberiaBank revealed that Gaudin’s employee,

Lainie Collins, was the person presenting the stolen checks to IberiaBank and

19-CA-459 2 receiving the money once cashed. IberiaBank contends, and Gaudin does not

dispute, that Ms. Collins stole, embezzled, or converted checks from Gaudin

Accounts, made them payable to firm clients after case settlements, forged the

payee’s endorsements on the back of the checks, presented the “double forged

checks” at IberiaBank and other banks for payment, and then retained the cash paid

on the forged checks drawn on Gaudin Accounts. Ms. Collins’ employment with

Gaudin was ultimately terminated in 2016 because “she was stealing money” from

the firm.2

In late April 2016, Gaudin notified IberiaBank that it had discovered

numerous allegedly unauthorized transactions relating specifically to the 2016

IOLTA account. IberiaBank’s first notice of any specific unauthorized

transactions involving Gaudin’s 2014 and 2015 IOLTA accounts occurred on

October 31, 2017, when IberiaBank received and reviewed Gaudin’s responses to

discovery.

On July 15, 2016, Gaudin filed a petition for damages alleging, inter alia,

that IberiaBank was responsible for negligently cashing several fraudulent third

party checks written on the Gaudin Accounts between January 1, 2014 and April

2016.3 According to Gaudin, the stolen checks bore the forged signatures of the

authorized signers and were presented to the bank for payment by Gaudin

employees not authorized to receive the funds. Gaudin averred that IberiaBank

made no effort to authenticate the validity of the checks or to verify the identity of

the payees on the checks. Gaudin amended its petition for damages to add

2 To date, Gaudin has not filed suit against Ms. Collins nor has Gaudin notified authorities of her conduct. According to Gaudin, once it notified IberiaBank of the theft and illegal transactions, the duty and obligation to report the matter to the proper authorities fell to IberiaBank. 3 Gaudin contends that IberiaBank is liable for 153 checks written on the Gaudin Accounts between 2014 and 2016.

19-CA-459 3 additional defendants—the “unknown employees of IberiaBank” and IberiaBank’s

insurer—and additional causes of action, including breach of contract and fraud.

In response to Gaudin’s original and first amended petitions, IberiaBank

filed peremptory exceptions of prescription and no cause of action, and

alternatively, a dilatory exception of vagueness and ambiguity.4 IberiaBank argued

that Gaudin had no cause of action apart from the LUCC and that, pursuant to La.

R.S.

Free access — add to your briefcase to read the full text and ask questions with AI

Related

Carter v. Haygood
892 So. 2d 1261 (Supreme Court of Louisiana, 2005)
Buggage v. Volks Constructors
928 So. 2d 536 (Supreme Court of Louisiana, 2006)
Gisclair v. Bonneval
928 So. 2d 39 (Louisiana Court of Appeal, 2005)
Marx v. Whitney Nat. Bank
713 So. 2d 1142 (Supreme Court of Louisiana, 1998)
Pham v. Contico Intern., Inc.
759 So. 2d 880 (Louisiana Court of Appeal, 2000)
Gisclair v. Louisiana Tax Commission
44 So. 3d 272 (Supreme Court of Louisiana, 2010)
Hogg v. Chevron USA, Inc.
45 So. 3d 991 (Supreme Court of Louisiana, 2010)
Banks v. Parish of Jefferson
108 So. 3d 1208 (Louisiana Court of Appeal, 2013)
Dufour v. Dow Chemical Co.
119 So. 3d 630 (Louisiana Court of Appeal, 2013)
Hardin Compounding Pharmacy, LLC v. Progressive Bank
125 So. 3d 493 (Louisiana Court of Appeal, 2013)
Trench v. Winn-Dixie Montgomery LLC
150 So. 3d 472 (Louisiana Court of Appeal, 2014)
Reynolds v. Bordelon
172 So. 3d 589 (Supreme Court of Louisiana, 2015)
BFH v. First National Bank USA
181 So. 3d 204 (Louisiana Court of Appeal, 2015)
Ducote v. Whitney National Bank
212 So. 3d 729 (Louisiana Court of Appeal, 2017)
Williams v. A Day to Remember Invitations, L.L.C.
956 So. 2d 30 (Louisiana Court of Appeal, 2007)
Peak Performance Physical Therapy & Fitness, LLC v. Hibernia Corp.
992 So. 2d 527 (Louisiana Court of Appeal, 2008)

Cite This Page — Counsel Stack

Bluebook (online)
Gaudin & Gaudin, a Professional Law Corporation Versus Iberiabank Corporation, Counsel Stack Legal Research, https://law.counselstack.com/opinion/gaudin-gaudin-a-professional-law-corporation-versus-iberiabank-lactapp-2020.